by Greg Guenthner
Daily Reckoning
You busted out the champagne yesterday and lit a cigar, right? After all, it was the bull market’s birthday!
The financial press reminds us that the bull market turned seven yesterday. Stocks bottomed out all the way back in March 2009 after the housing meltdown and subsequent financial crisis. The rest is history. The S&P 500 has gained more than 200% in the seven years since.
What about the 19.9% drop in 2011? Doesn’t count. Gotta hit 20% to officially gain bear status. So this bull’s officially been running for seven straight years.
But as MarketWatch says, concerns about the global market have put its run in jeopardy.